Charles Schwab Investment Management Inc. Has $23.40 Million Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Charles Schwab Investment Management Inc. increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,494 shares of the company’s stock after acquiring an additional 3,791 shares during the period. Charles Schwab Investment Management Inc. owned about 0.83% of iRhythm Technologies worth $23,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp raised its holdings in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares in the last quarter. Quarry LP purchased a new stake in shares of iRhythm Technologies during the third quarter worth $59,000. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after acquiring an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of iRhythm Technologies during the third quarter worth $119,000.

iRhythm Technologies Trading Down 2.0 %

iRhythm Technologies stock opened at $101.66 on Wednesday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business’s 50-day simple moving average is $107.20 and its 200-day simple moving average is $88.17. The firm has a market capitalization of $3.19 billion, a PE ratio of -27.93 and a beta of 1.36. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. The business had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IRTC has been the subject of several recent research reports. Needham & Company LLC increased their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Oppenheimer increased their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Canaccord Genuity Group raised their target price on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.73.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.